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This record contains private information, which has been redacted from public viewing.
Record #: O2022-3589   
Type: Ordinance Status: Passed
Intro date: 10/26/2022 Current Controlling Legislative Body: Committee on Finance
Final action: 11/16/2022
Title: Discount transfer sale and new loan refinance regarding Churchview Supportive Living Facility LP and Greater Southwest Development Corporation utilizing multi-family housing revenue bonds to rehabilitate facility at 2626 W 63rd St
Sponsors: Lightfoot, Lori E.
Attachments: 1. O2022-3589.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
October 26, 2022










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Housing, I transmit herewith an ordinance authorizing the issuance of financial assistance for the rehabilitation of Churchview Supporti Living apartment building.

Your favorable consideration ofthis ordinance will be appreciated.

Mayor


Very truly yours.
ORDINANCE

WHEREAS, by virtue of Section 6(a) of Article VII ofthe 1970 Constitution ofthe State of Illinois (the "Constitution"), the City of Chicago (the "City") is a home rule unit of local government and as such may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, the City has determined that the continuance of a shortage of affordable rental housing is harmful to the health, prosperity, economic stability and general welfare of the City; and

WHEREAS, the City has certain funds available from a variety of funding sources (the "Multi-Family Program Funds"), including funds available from Community Development Block Grant funds under Title I ofthe Housing and Community Development Act of 1974, 42 U.S.C. ยง5301 et seq., as from time to time amended, supplemented and restated, which created the Community Development Block Grant Program (the "CDBG Program") to make loans and grants for the development of multi-family residential housing to increase the number of families served with decent, safe, sanitary and affordable housing and to expand the long-term supply of affordable housing, and such Multi-Family Program Funds are administered by the City through its Department of Housing (the "DOH"); and

WHEREAS, Churchview Supportive Living Facility L.P., an Illinois limited partnership (the "Seller") owns and operates a residential rental facility consisting of 86 units located at 2626 W. 63Rd Street, in the City of Chicago, County of Cook, State of Illinois (th...

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